Sea of Red
Comparison of indices – closing 14th Feburary 20 vs 7th Feburary 20
NIFTY50 closed 0.2% higher from last Friday’s closing. However, Midcap -2.0%, Smallcap -1.2% closed weaker. Amongst Sectoral and Thematic indices, IT closed 1.2% higher, PSE -3.9%, METAL -3.4% lost significantly.
Economy updates
Wholesale inflation spikes in January – India’s WPI inflation spiked sharply to 3.1% in January 2020 as against 2.59% for the previous month and 2.76% during the corresponding month of previous year. The uptick in inflation figures came on the back of sharp increase in fuel & power prices.
Electric vehicles sales likely to witness huge improvement by 2024 – Crisil Research report states that top five electric two-wheeler manufacturers are expected to increase their capacity from 0.4 million units to 3+ million units by fiscal 2024. It noted that 43-48% of new 3-wheelers, and 12-17% of new 2-wheelers sold will be electric vehicles (EVs) by 2024.
Indian economic growth poised to bounce back as slump bottoms out – Expressing optimism over Indian economy, principal economic adviser Sanjeev Sanyal has said that the country’s economic growth is poised to bounce back after as the government has taken measures to prop up investments and consumer demand.
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